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So what: Fiscal-second-quarter revenue was up 6% to $962 million, easily topping Wall Street's $922 million estimate. On an adjusted basis, earnings were $0.22 per share, which came in $0.13 ahead of estimates.

Now what: The commercial trucking market helped drive results, and that gave management enough confidence to raise earnings guidance by $0.20 to between $0.50 and $0.60 per share. That still leaves the company with a 23 P/E ratio, which is too expensive for me given the slow growth rate. I'd like to see further stable profits before jumping in, but investors should definitely see positive signs in Meritor's results.